IMF's Rato says no need for ECB rate cut yet

International Monetary Fund managing director Rodrigo Rato said in an interview that there is no reason for the European Central Bank to cut interest rates at the moment, but it should do so if euro zone growth weakens any further.

The ECB meets on Thursday 7 July to decide on eurozone interest rates, but is not expected to make any change in rates.

In an interview with Frankfurter Allgemeine Zeitung, Rato also said monetary policy in the eurozone since 1999 has not posed a barrier to growth in